NFA Forex Dealer Dead Pool

[forex scholar]

NFA is on the war path right now. This is the fifth poorly capitalized firm they have disciplined this week. If you are a customer of Hamilton Williams or Velocity4x or whatever the hell they call themselves get your money out now. And for the Love of God stay away from poorly capitalized firms! They are dropping like ten pins.
BASIC Case Summary

COMPLAINT:
On May 18, 2007, NFA issued a Complaint charging Hamilton with use of deficient promotional material by non-Member solicitors. The Complaint also charged Hamilton with failing to maintain adequate books and records necessary and appropriate to conduct its business. Finally, the Complaint charged Hamilton with failing to take applicable concentration charges; failing to maintain adequate adjusted net capital; and failing to collect the required minimum security deposit.

ANSWER:
On July 5, 2007, Hamilton filed an Answer to the Complaint in which it denied the material allegations contained therein.

DECISION:
On December 5, 2007, Hamilton was ordered to pay a $90,000 fine. Hamilton was also ordered to cease to accept accounts or receive compensation, directly or indirectly, for forex transactions that are introduced by any person unless that person: (1) is an NFA Member, Associate of NFA, or pending approval as an NFA Member or Associate and is not subject to a Notice of Intent to Deny or Revoke registration; (2) is a member or associated with a member, of a national securities association registered under Section 15A(b) of the Securities Exchange Act of 1934 and is operating pursuant to such membership or association; or (3) would be exempt from CFTC registration if such person were acting in the same capacity in connection with exchange-traded futures products.

[forex scholar]

Today the CFTC issued their final report on Net Capital before the new $5 million capital requirement rule goes into effect.
Financial Data for FCMs

While this report details balances as of only October 31, it is the last piece of independent data the public can use before the bell tolls in a few weeks. And don't think these firms don't know that. Furthermore, in light of the FXLQ scandal, the numbers you see here are more likely to be overestimates of how much capital these firms have so be sure to factor that into the equation.

At this point in time any firm that still isn't reporting capital of over $5 million should be avoided by the trading public at all costs. The risk is too large and as One World Capital has shown it just isn't worth it. The following 10 firms should be avoided at this point in time as they are at high risk for going out of business. If you have money with them, take it out, NOW.

1) SNC Investments: $1,152,000
They are well below the $5 million capital requirement. It is highly unlikely they will make the new requirement at this point. I advise customers to leave this firm and look for greener pastures.

2) Wall Street Derivatives: $1,228,000
This firm is based out of New Zealand and I'm not even sure they have any U.S. customers as their U.S. website is out of service.

3) Advanced Markets: $1,322,000
Amifx is already teetering on the brink as they are the subject of a business conduct committee case before the NFA in which they are cited for a whole host of financial violations including not meeting the old capital requirement. This firm does not have much of a future.

4) Hamilton Williams (VelocityFX): $1,345,000
This firm is a train wreck. They just got fined $90,000 by the NFA for not meeting the old capital requirement. Then they lost their liquidity provider when FXLQ got shut down. Now they can't accept any customers from their unregistered introducing brokers. This firm is literally on life support. Do yourself a favor and stay the hell aware from them before the regulators pull the plug on them once and for all.

5) Solid Gold Financial: $2,040,000
Solid Gold's future is now in serious doubt. Like many of the other firms on this list they have been charged by the NFA with failing to meet their existing capital requirement. When you can't meet the old requirement it stands to reason you won't be able to meet the new one either. Solid Gold is anything but a solid investment at this point.

6) Bacera Corporation: $2,300,000
Like a turd that won't flush Bacera Corporation just refuses to go down the drain. The Savior wrote Bacera off over the summer as sources knowledgeable about them stated they were going to close up shop. But no, they are still hustling the folks in LA for fresh deposits. In September Bacera settled a complaint with the NFA after it was discovered they were undercapitalized to the tune of $1.2 million. NFA reported Bacera only has about 200 customers as it is. But to those 200, do yourself a favor and get yourself another broker because sooner or later the pipes are gonna get cleaned and these guys are going to get flushed once and for all.

7) GFS Futures & Forex: $2,353,000
This firm is in an especially tight fix. They offer 200:1 leverage which means they need to come up with $10 million. And as this number shows they are far, far away from that.

8) Forex Club: $3,320,000
They still have not hit the minimum $5 million mark. And don't forget since they are a market maker they have other financial requirements to meet as well. They still haven't publically done so.

9) Easy Forex: $3,789,000
Under siege for their sleazy sales tactics, it's hard to imagine the NFA isn't going to drop the hammer on them soon.

10) Money Garden: $5,035,000
While they have crept up over the $5 million mark MG is notorious for their 400:1 "flexi" accounts which will require MG put up a minimum $10 million in capital in addition to other financial requirements for being a market maker. They are not even close to doing this despite their CEO's insistence they could easily get the money last summer. It looks like this veteran of the industry is about to be forcibly retired.

And so this is where we stand as of Friday, December 7, 2007. The new $5 million capital requirement kicks in on Friday, December 21, 2007. Two weeks to go. Tick Tock. Tick Tock.

[forex scholar]

For those of you caught in the FXLQ meltdown this thread at Forex Factory has some excellent information:
http://www.forexfactory.com/showthread.php?t=59150&page=3

This trader posted the following which shows you the incredible maelstrom that FXLQ is currently mixed up in:

There are certainly strange things happening with this whole situation. I have a 6 figure account with FXLQ and have been with them for about a year and a half, very happy with them until now, by the way. On Tuesday evening I started my "work day" during the Asian market and tried to put a pending order, to my surprise it would not take it, so after repeated attempts I called the trading desk and they gave me the news on the whole situation. As it was explained by them, it seemed like something that would be resolved in a day or two.

Nevertheless, I filled out a request to withdraw my funds and then went to the NFA link to read the whole case, which clearly portrays a picture of FXLQ making up capital assets with an inexistant Bond from ABN ARMO BANK (one of EU's biggest banks).

Now, I was worried, so I decided to take the next plane to LAX at 8:00AM EST (I live in South Florida). I was in their office by 12:30 PM PST and everyone seemed to be working normally along with two auditors from NFA. After speaking to one person and another and waiting for several hours I was told that they had been denied permission by Jenifer Sunu, from NFA in Chicago to disburse any of my funds. Unfortunately, it was too late to call her in Chicago so I had to wait until the next. . During this time, several of the company executives met with me, including Robert Gray, and they explained how they have funds in different financial institutions in Europe and that the NFA did not want to accept this and ordered them to repatriate all these funds, which they were in the process of doing, but this was not an overnight ordeal. Robert Gray said that this order to repatriate funds had come in on Monday and the Member Responsibility Action, came in the next day (Tuesday).

The following morning I started calling Jenifer Sunu and finally, after about 4 hours of failed attempts, she finally picked up the phone. After listening to everything she had to say, I practically lost all hope of getting my money back, or at least the whole thing. The first thing I asked her was, why she had not authorized FXLQ from giving me my money back and she responded that the audit shows that there is ten million dollars deficiency. In other words, (her words) she said that my position was that of any creditor and had the same importance, legally, as the phone bill, and therefore, if there is a shortfall of 10 million dollars, the creditors would receive their funds in the proportional amount of what is "left". She gave me an example of when a "bankrupt" company dissolves. She even said that this was a done deal on their part. That it was out of their hands and that the CFTC had been notified for them to name a liquidator and dissolve the company and pay creditors with whatever funds are left and they (CFTC) would be in charge of any charges or legal actions against the principals and/or executives..... In short, not much hope.

As soon as I hung up with her, I took off to FXLQ and met with Robert Gray and told him my conversation with Ms. Sunu. He was outraged and immediately called his lawyer into his office and they called Ms. Sunu. While the attorney was trying to reach her, Robert showed me how they had already received two wires from Europe, one for over two million and the other one for a million something.

A few minutes later, the attorney came back to Robert Gray's office and said that Jenifer Sunu, was denying everything (several other customers had also called with similar stories, some where told that they would be lucky to get 50 cents on the dollar). So they asked me, if I wanted to talk to her, which of course I did. We put her on speaker phone and she started by saying that I had misunderstood her, she acknowledged that FXLQ had already received 2 multimillion dollar wires from their offshore accounts and that in no way was this a done deal on the part of the NFA, completely contradicting herself from my earlier conversation.

This, in a way, gave me renewed expectations but at the same time it is really strange that the NFA would bad mouth the company to the extent of practically giving me a verbal "death certificate" and then when confronted with the "patient" takes everything said back. Why?

As far as my perception, to me FXLQ has always showed honesty and integrity, at least compared to a big list of other FXBrokers I have had accounts with. I had many experiences where they honored and fixed, to my benefit errors created by MT4. As far as my face to face meetings with them last Wednesday and Thursday, I get the feeling that they are truly trying to survive this ordeal and the proof is in the millions that they repatriated on Thursday, which shows that instead of folding they ARE actually bringing money in. They think, that ounce they come out of this NFA persecution, they will prove to be stronger than before, which is obviously true, BUT the question is, if they are able to prove that their financial solvency is adequate and in line with what was previously reported, will they be able to continue business as usual or will the damage caused by this whole ordeal be too deep to recover?

I'd like to also mention that I asked Ms. Sunu in my first conversation, what good is their monthly FCM Financial Data Report, if the information in it is not reliable; She answered that all companies are audited every year, but it seems that documents that were accepted last year, are now questionable. So what good is basing your decisions on choosing a broker on this report if its validity is questionable.

In general, I prefer to have the NFA than nothing at all, as most
other countries, but it definitely needs a lot of work to be an real
and effective controlling organization.

UPDATE: I just got a call from one of the executives that told me that they received another four million (I did not ask if they received anything on Friday) and they had been trying to get the NFA to authorize the release of customer funds but had no positive response yet and they expected to get the authorization, hopefully, by tomorrow.
Regards,
CMA

If you have money at FXLQ, MultibankFX or any of the other brokers that clear through FXLQ GET YOUR MONEY OUT NOW IF YOU STILL CAN!

[forex scholar]

Upon second glance at the latest CFTC Capital Report I have come across a rather alarming capital number for a firm that previously have been well above the $5 million minimum capital requirement. The firm is ODL securities and they reported only $2,566,000 in adjusted net capital. The previous month they reported over $9 million in adjusted net capital. That is quite a stunning drop.

But what makes ODL's current number even more disturbing is that in October the NFA gave ODL a beat down in a BCC action in which they charged ODL with a bucket load of financial requirement violations that seriously calls into question the manner in which this firm is run.

NFA Charges:
• F.R.SEC11(a)NEW - FDM MAINTAIN ADJUSTED NET CAPITAL
•F.R.SEC11(b)NEW - FDM TAKE CONCENTRATION CHARGE-UNAFFILIATED
• F.R.SEC11(c)NEW - FDM TAKE CONCENTRATION CHARGE-AFFILIATES
• F.R.Section 11 - LTM REPORTING
• C.R.2-10 - RECORDKEEPING FCMS/IBS
• C.R.2-36(b)(1) - CHEAT, DEFRAUD, DECEIVE FOREX CUSTOMERS

The NFA gives example after example of how this firm misreported its financial numbers and failed to meet the most basic financial regulatory requirements expected of a Forex Dealer.
http://www.nfa.futures.org/BasicNet/Case.aspx?entityid=0330396&case=07BCC00006&contrib =NFA

During the examination NFA discovered that ODL had failed to prepare an accurate net capital computation as of March 31, 2006. ODL had improperly classified cash held at a Cayman Island bank as a current asset when it should have been classified as a non-current asset, failed to properly account for customer debits, netted customer debits against other credits in non-related customer accounts, and failed to the appropriate haircut charge on money market funds held at a brokerage firm. As a result, ODL overstated its net capital by approximately $448,000.

ODL failed to take the applicable concentration charge on transactions with both unaffiliated and affiliated counterparties. This failure resulted in an overstatement of ODL's net capital by approximately $1.3 million on March 31, 2006 net capital computation.

As a result of adjustments to ODL's capital computation resulting from the violations referenced above ODL failed to maintain the required minimum adjusted net capital as of March 31, 2006.

NFA's review of ODL's financial statements during the examination revealed that ODL had also failed to maintain the required minimum adjusted net capital as of April 30, 2006.

Subsequent to NFA's examination, ODL has consistently failed to maintain the required minimum adjusted net capital. Specifically, ODL's adjusted net capital fell under the required minimum on May 31, 2006, August 25, 2006, September 30, 2006, November 10, 2006, November 17, 2006, November 30, 2006, December 1, 2006, December 22, 2006, and January 19, 2007.

The NFA's final decision was as follows:

ODL and King were ordered to be jointly and severally liable for payment of a $165,000 fine. Dubuque was ordered to pay a $3,000 fine. In addition, Dubuque was ordered to tape record, for one year, all conversations between himself and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes available to NFA upon request.

With ODL's net capital woefully below $5 million and in light of the NFA blowing the lid off ODL's appallingly bad book keeping and shoddy accounting practices I am putting out the warning to the trading public: Avoid ODL and if you have money at ODL it's time to get your money back and find yourself another broker.

[forex scholar]

Royal Forex may no longer be an independent company but that doesn't mean it still doesn't have sins to pay for. Today the NFA fined them $75,000 for the kind of standard, run of the mill incompetence that we've all come to expect from the poorly capitalized. Below is a summary of the NFA's Decision:

NFA orders Florida forex firm and its CEO to pay a fine of $75,000
December 13, Chicago - National Futures Association (NFA) has ordered Royal Forex Trading LLC (Royal), formerly known as Freedom FX LLC, and its chief executive officer, Justin J. Marsch, to pay a fine of $75,000. Royal is a Futures Commission Merchant and Forex Dealer Member located in Boca Raton, Florida. The Decision, issued by NFA's Business Conduct Committee, is based on a Complaint filed in September 2007 and a settlement offer submitted by Royal and Marsch.

The Committee found that Royal and its unregistered solicitors used misleading promotional material and that Royal failed to collect and maintain required security deposits from its forex (foreign currency futures) customers. Additionally, the Committee found that both Royal and Marsch failed to adequately supervise the firm's forex operations.

The guys at IKon really have their hands full...

[forex scholar]

Queue up the music from Swedish Glam Band "Europe" because this week is when the Dead Pool comes to an end. YouTube - Europe-The Final Countdown

This Friday is the NFA deadline for fx firms to meet the minimum $5 million capital requirement. Two updates to report:

GFS Futures & Forex has just made an announcement on their website that they have received a $6 million capital infusion to put them over $10 million thus ensuring a stay of execution from the NFA hangman.

Meanwhile, Velocity4x has thrown in the towel and is handing over their clients to Gain Capital.

December 14, 2007
Dear Valued Customer:
In an effort to better serve the needs of our customers, Velocity4x is pleased to announce a new partnership with FOREX.com, a division of GAIN Capital Group. Effective Friday, December 14, 2007 at 5:00 pm ET Velocity4x will transfer all customer accounts to FOREX.com. Following the transfer of your account, FOREX.com will provide all custody, clearing and support functions.
FOREX.com has worked closely with Velocity4x to ensure the transfer of your trading account is as seamless as possible. You may continue to access the trading platform as you have in the past and utilize your existing login and password.

Trading activity in your account after December 14, 2007 will confirm your consent to be bound by the FOREX.com Customer Agreement. A link to the FOREX.com Customer Agreement is provided here for your convenience: Click here to view the FOREX.com Customer Agreement.

If you choose to close your account following the transfer, you may communicate your decision to FOREX.com directly, through email at velocity4x@forex.com or telephone at 908.458.8274 and FOREX.com will honor your request and return your account balance to you.

If you have any questions regarding this transfer you may contact Velocity4x at 312.546.6288 or via e-mail at accounts@velocity4x.com or FOREX.com at 908.458.8274 or via e-mail at velocity4x@forex.com.

Through our new relationship with FOREX.com, we look forward to providing you with superior service. FOREX.com is a registered Futures Commission Merchant and a member of the National Futures Association (NFA ID# 0339826). You may also obtain additional information regarding FOREX.com and Gain Capital Group, LLC on NFA's web site.GAIN Capital's corporate headquarter address is 550 Hills Drive, Bedminster, NJ07921 and its main telephone number is 908.731.0750.

Very Truly Yours,
Velocity4x

The following firms have still not publically indicated they have met the requirement. Beware these firms until further notice:

1) SNC Investments: $1,152,000
They are well below the $5 million capital requirement. It is highly unlikely they will make the new requirement at this point. I advise customers to leave this firm and look for greener pastures.

2) Wall Street Derivatives: $1,228,000
This firm is based out of New Zealand and I'm not even sure they have any U.S. customers as their U.S. website is out of service.

3) Advanced Markets: $1,322,000
Amifx is already teetering on the brink as they are the subject of a business conduct committee case before the NFA in which they are cited for a whole host of financial violations including not meeting the old capital requirement. This firm does not have much of a future.

4) AlpariFX $2,481,000
Little known European firm. Well under the cap requirement.

5) Solid Gold Financial: $2,040,000
Solid Gold's future is now in serious doubt. Like many of the other firms on this list they have been charged by the NFA with failing to meet their existing capital requirement. When you can't meet the old requirement it stands to reason you won't be able to meet the new one either. Solid Gold is anything but a solid investment at this point.

6) Bacera Corporation: $2,300,000
Like a turd that won't flush Bacera Corporation just refuses to go down the drain. The Savior wrote Bacera off over the summer as sources knowledgeable about them stated they were going to close up shop. But no, they are still hustling the folks in LA for fresh deposits. In September Bacera settled a complaint with the NFA after it was discovered they were undercapitalized to the tune of $1.2 million. NFA reported Bacera only has about 200 customers as it is. But to those 200, do yourself a favor and get yourself another broker because sooner or later the pipes are gonna get cleaned and these guys are going to get flushed once and for all.

7) ODL Securities: $2,566,000
Ravaged by undercapitalization issues.

8) Forex Club: $3,320,000
They still have not hit the minimum $5 million mark. And don't forget since they are a market maker they have other financial requirements to meet as well. They still haven't publically done so.

9) Easy Forex: $3,789,000
Under siege for their sleazy sales tactics, it's hard to imagine the NFA isn't going to drop the hammer on them soon.

10) Money Garden: $5,035,000
While they have crept up over the $5 million mark MG is notorious for their 400:1 "flexi" accounts which will require MG put up a minimum $10 million in capital in addition to other financial requirements for being a market maker. They are not even close to doing this despite their CEO's insistence they could easily get the money last summer. It looks like this veteran of the industry is about to be forcibly retired.

[forex scholar]

Well the CFTC has officially stepped in to put an end to the shenanigans at One World Capital. I have been reporting on the decline and fall of One World Capital for over six months now so this should be no surprise to anyone following this thread. But it appears that there is a serious shortage of funds at One World which is going to result in heavy losses for customers. This is exactly what I have been warning about for several months now.
CFTC Sues One World Capital Group, LLC and its President John Edward Walsh for Inability to Demonstrate it had Required Capital

CFTC Sues Forex Dealer One World Capital Group, LLC and Its President John Edward Walsh for Inability to Demonstrate it had Required Capital

Winnetka, Illinois Forex Dealer May Owe Millions to Customers
Washington, DC – The U.S. Commodity Futures Trading

Commission (CFTC) announced today that on December 13, 2007 it sued One World Capital Group, LLC (One World) of Winnetka, Illinois, a registered futures commission merchant (FCM), and its President, John Edward Walsh of Lake Forest, Illinois, charging them with inability to demonstrate compliance with capitalization requirements and with failure to maintain required books and records.

On the same day the case was filed, the CFTC won an asset freeze and other emergency relief that will enable the Commission to freeze the assets of One World and safeguard the interests of its customers.

The complaint alleges that One World has been unable to demonstrate that it has maintained at least $1 million in adjusted net capital, the minimum requirement needed for FCMs that are Foreign Currency Dealer members of the National Futures Association (NFA).

According to the CFTC complaint, since at least November 28, 2007, One World and Walsh failed to demonstrate compliance with the net capital amount as required by the Commodity Exchange Act and CFTC regulations. As of December 10, 2007, the complaint charges, One World failed to demonstrate that it had any net assets. While One World appeared to possess $554,000 of funds held in customer accounts, since at least November 2, 2007, the NFA has been receiving complaints from customers alleging that they are unable to get their funds back from One World. The complaint alleges that the amount claimed outstanding by customers exceeds $4 million. The complaint also alleges that Walsh conceded an inability to identify all of One World’s customer liabilities. Furthermore, the complaint charges One World and Walsh with failing to maintain books and records as required by a CFTC regulation.

$4 million owed to customers? This will not be a very Merry Christmas for the customers now trapped at One World Forex.

[forex scholar]

An email is circulating around the net that FXLQ has apparently sent to their customers. The CFTC is about to sue them. FXLQ is in deep, deep, deep trouble:

FXLQ Shut down temporarily by NFA - Page 7

Tuesday, December 18, 2007

To our Valued Clients:
We have temporarily suspended operations due to a Commodity Futures Trading Commission lawsuit filed against the company in Federal Court. Please be assured that as soon as we are able, we will return any messages.
There is a hearing in the U.S. District Court scheduled for January 4, 2008 where we hope to resolve all issues the CFTC has with our company.

Thank you,

Forex Liquidity LLC

[scorpion]

One member points out to me recently that he got a check of half of his balance from One World Capital Group. Hope he will get another half when the court appoints a Receiver to distribute the funds.

[forex scholar]

Now that the CFTC has begun their investigation of One World Capital expect some rather unsavory things to come out in the next few months. The Chicago Sun Times just ran this story today on the suit filed against One World:
Feds freeze assets of Winnetka trading firm :: CHICAGO SUN-TIMES :: Business

Feds freeze assets of Winnetka trading firm

December 19, 2007
BY DAVID ROEDER Staff Reporter

Federal regulators have obtained a court order freezing the assets of a Winnetka trading firm after customers said it denied them access to their cash.

The Commodity Futures Trading Commission sued the firm, One World Capital Group LLC, and its president, John Edward Walsh, 59, of Lake Forest. The firm specializes in foreign currency markets, allowing customers to conduct trading through specialized software.

The CFTC said that since Nov. 2, customers have reported that redemption requests exceeding $4 million have been denied. The agency, which regulates futures trading, also said One World has been unable to prove it has net capital of at least $1 million, the minimum required of foreign currency traders.

“It is true that some customer redemptions have not been satisfied,” said Kevin Flynn, an attorney representing Walsh. Flynn said his client is committed to working with the CFTC to resolve any complaints.
The firm has about 1,500 customer accounts, he said, adding that he couldn’t comment on its financial state.

The case is the third major complaint to be filed in recent months against Chicago-area trading firms. The CFTC and other agencies are investigating Sentinel Management Group Inc. and Lake Shore Asset Management Ltd. for alleged misappropriation of customer funds.

Walsh could not be reached. Records with the National Futures Association show that he started One World in 2005 after previous employment with several trading firms, including Rosenthal Collins Group LLC and Commerz Futures LLC.

The NFA also said he has been involved in three cases involving customer reparations, but details were unavailable.

Scott Williamson, deputy regional counsel for the CFTC, said the firm dealt mostly in the cash foreign exchange contract and phased out a business in futures contracts. He said Walsh may have improperly commingled customer funds with his own trading, or failed to hedge its risk.

So what happened to the money? Well sources are telling me that yesterday Charles Martin threw a big bash at the Chicago House of Blues that cost a fortune. Who is Charles Martin? Well he is the guy who applied with the NFA to become a principal of One World Capital but was turned down because:
BASIC Case Summary

in 1997, in the Circuit Court of Cook County, Illinois, Martin pled guilty to the felony offense of possession of less than 15 grams of cocaine. The Notice of Intent charged that Martin's guilty plea to a felony offense disqualifies him from registration under Section 8a(3)(D) of the Commodity Exchange Act ("Act").

In addition, the Notice of Intent alleged that in 2000, also in Cook County, Illinois, Martin pled guilty to and was found guilty of the misdemeanor offense of theft. The Notice of Intent charged that Martin's guilty plea to and conviction of a misdemeanor offense involving theft disqualifies him from registration under Section 8a(3)(E)(iii) of the Act.

I love Martin's response to the NFA's decision to deny his principalship. He, "did not deny the allegations contained therin. However, he stated that he intended to show that his conditioned registration would not pose a risk to the public."

Riiiiiiiiiiiiiight. Why didn't he just claim to have found Jesus? The NFA still rejected Martin in any case. But that didn't stop him from running the show at One World. The NFA says in its own complaint against One World earlier this year that "NFA received information that Martin was in charge of One World's entire operation and was acting as an undisclosed principal of the firm."
BASIC Case Summary

Last month One World "Agreed" to never allow Charles Martin to set foot in their office again in a settlement with the NFA. But looks like the damage has already been done. Within weeks of the NFA's decision the firm went bust. And Mr. Martin can be seen hoisting a Cold Frosty One at a downtown Chicago bar, laughing all the way to the bank...